8619-8621 Wilshire Blvd
6,750 SF | Retail Building | Beverly Hills, CA 90211 | $13,500,000 ($2,000/SF) | 1.20% Cap Rate
For Sale
Active
- Date Added:
- September 16, 2024
- Days on Market:
- 2 days
Asking Price $13,500,000
- Property Type
-
Retail
- Square Feet
- 6,750 SF
- Price / Square Foot
- $2,000
Listing Contacts
Phil Seymour
Verified Profile
David Weinberger
Verified Profile
Megan Husri
Verified Profile
- Property Info
Property Overview
Call David Weinberger for More Information: 818.970.0915.
The offering presents a rare opportunity to acquire 8619-8621 Wilshire Blvd. - An iconic two-story retail building, constructed in 1948, in the heart of the highly coveted Beverly Hills. The property offers five suites, totaling 7,200 SF, with 6,750 SF of RBA and 14 parking spaces on an expansive 11,581 SF lot spanning two parcels.
The offering presents investors and developers the opportunity to acquire one of the few development opportunities available for sale in Beverly Hills. The BHC3 zoned site presents a multitude of possibilities for the new owner, including the potential to develop up to 42 residential units (utilizing a 100% density bonus) along with a ground level commercial component. Providing the option to operate as an owner/user or investor, or the ability to make strategic improvements to capitalize on the premium rental rates synonymous with Beverly Hills.
Alternatively, the property may qualify for the City of Beverly Hills Medical Conversion Use Ordinance 22-0-2864, providing tremendous value to any medical professionals, including doctors and dentists.
Surrounded by a vibrant mix of commercial properties, single-family residences, restaurants, retail establishments, and medical offices, this location benefits from the robust infrastructure and high-earning residents that support businesses and new developments in Beverly Hills.
Call David for more information - 818.970.0915. Site Assessment Summary can be found in Offering Memorandum: wilshire-blvd.com
Sale is subject to Court Confirmation and may be subject to overbid.
The offering presents a rare opportunity to acquire 8619-8621 Wilshire Blvd. - An iconic two-story retail building, constructed in 1948, in the heart of the highly coveted Beverly Hills. The property offers five suites, totaling 7,200 SF, with 6,750 SF of RBA and 14 parking spaces on an expansive 11,581 SF lot spanning two parcels.
The offering presents investors and developers the opportunity to acquire one of the few development opportunities available for sale in Beverly Hills. The BHC3 zoned site presents a multitude of possibilities for the new owner, including the potential to develop up to 42 residential units (utilizing a 100% density bonus) along with a ground level commercial component. Providing the option to operate as an owner/user or investor, or the ability to make strategic improvements to capitalize on the premium rental rates synonymous with Beverly Hills.
Alternatively, the property may qualify for the City of Beverly Hills Medical Conversion Use Ordinance 22-0-2864, providing tremendous value to any medical professionals, including doctors and dentists.
Surrounded by a vibrant mix of commercial properties, single-family residences, restaurants, retail establishments, and medical offices, this location benefits from the robust infrastructure and high-earning residents that support businesses and new developments in Beverly Hills.
Call David for more information - 818.970.0915. Site Assessment Summary can be found in Offering Memorandum: wilshire-blvd.com
Sale is subject to Court Confirmation and may be subject to overbid.
Property Details
- Class
- C
- Year Built
- 1948
- Stories
- 2
- Property Subtype
- Storefront, Freestanding, Storefront Retail/Office
- Lot Size (sq. ft)
- 11,761 SF
Highlights
- Rare development opportunity in the heart of Beverly Hills
- BHC3 zoned site with potential to develop up to 42 residential units (utilizing a 100% density bonus) and ground level commercial space
- Property may qualify for the City of Beverly Hills Medical Conversion Use Ordinance 22-0-2864, providing value to medical professionals
- Ability to operate as an owner-user, investor, or make strategic improvements to capitalize on premium rental rates
- Situated on an expansive 11,581 SF lot spanning two parcels
Nearby Properties
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